Mumbai, Feb 8: Anil Ambani, the brother of Asia’s richest man has pleaded poverty in his dispute with three Chinese banks seeking $680 million in defaulted loans.
“The value of my investments has collapsed,” Anil Ambani said, according to a court filing by the banks in a London lawsuit.
“The current value of my shareholdings is down to approximately $82.4m and my net worth is zero after taking into account my liabilities. In summary, I do not hold any meaningful assets which can be liquidated for the purposes of these proceedings.”
The lawsuit was filed by three state-controlled Chinese banks which argue that they provided a loan of $925 million to Ambani’s Reliance Communications Ltd. in 2012 with the condition that he personally guarantee the debt. The comments were disclosed on Friday as Ambani sought to avoid depositing hundreds of millions of dollars with the court ahead of a trial.
The embattled Indian tycoon says that while he agreed to give a non-binding “personal comfort letter,” he never gave a guarantee tied to his personal assets -- an “extraordinary potential personal liability.”
The 60-year-old is the brother of Mukesh Ambani, who’s worth $56.5 billion and is the wealthiest man in Asia. Anil, on the other hand, has seen his personal fortune dwindle over recent years, losing his billionaire status. His Reliance Communications filed for bankruptcy last year.
The banks asked Judge David Waksman to force Ambani to put up $656 million into the court’s account.
Representatives for Ambani’s Reliance Group said they couldn’t immediately comment. They said the group will issue a statement once the court issues the final order.
Ambani’s lawyer, Robert Howe, said the court shouldn’t order his client to make a payment he can’t make. The tycoon argues that an order requiring him to do so would hinder his ability to defend himself in the case, Howe said.
“There’s no evidence of some giant pot of gold that he can pull $1 million, let alone $10 million, let alone $100 million,” Howe said.
Bankim Thanki, an attorney representing Industrial & Commercial Bank of China Ltd., China Development Bank and the Export-Import Bank of China, said in a filing that Ambani’s statements are “plainly a yet further opportunistic attempt to evade his financial obligations to the lenders.”
Ambani was caught up in another legal wrangle last year when India’s Supreme Court threatened him with prison after Reliance Communications failed to pay Rs 5.5 billion ($77 million) to Ericsson AB’s Indian unit. The judges gave him a month to find the funds, and his brother, Mukesh, stepped in just in time to make the payment.
Anil said in a filing that he recognized that the judge would want to know if he could satisfy any order to put up funds from outside resources, including his family.
“I can confirm that I have made enquiries but I am unable to raise any finance from external sources,” he said. Judge Waksman had said in an earlier ruling that he believed Ambani’s defence would be shown to be “opportunistic and false.”
Ambani’s lawyer told the judge that as a result of the comments the tycoon’s relatives were unlikely to lend any funds.
There is a “very substantial risk they will never get it back,” Howe said.
The couple have been identified as Neha Anjum and Pradeep, both hailing from Chitradurga.
Comments
2 incidents recently took place in Mangalore Muslim Girls married to Hindu boys, both of them came back their Husbands also embraced Islam. all knows that Islam only a true community rest all leads to hell fire and baseless
Infact she loved hell fire by loving a non believer of Allah who created all the universe. It's better for a Muslim man to marry a slave women instead of marrying a non believing women. Same way for a believing women it is better to marry a believing slave man instead of marrying a non believing rich person. May Allah give Hidaya to both.
MastAli , it's better than worshipping a child rapist
she has become blind in love, its okay no big issue, when the whole world is becoming Muslim, these incidents should not stop our spirit of sharing the belief of Islam. See the percentage of growth of Islam its higher than any other religion. Those who enjoying the news that Girl married Hindu remember my words Islam will enter every home, Truth will prevail and falsehood is bound to perish..
..powattt apara...attig pooith.....2 months l wapas bandaaal ....but it will b too late....
i am a muslim... i dont see what is wrong with this...so what?
she was told it is haram by her parents , yet she did... its her decision.
you all should start ignoring such cases and go ahead and get a life .
Proud indian...
Your view is only yours and it wont effect the one who created you & ME...and all that exists...
Before you mention such silly and arrogant things... Just look what ISLAM says about the CREATOR and the LIFE he had given us all, also in YOUR VEDAS.. which says NA TASYA PRATIMA ASTI... there is no image of God..
It proves that the so called GODs, YOU guys are worshiping in the form of Stones and others are NOT GOD its a man made stones which is LIFE LESS. and stones cannot help U or it will not reach GOD who created U & ME and all that Exists..
Atleast Use your God give intellect when you are worshiping the STONES, animals or even their shit...
The more U worship the created things, U hearts are becoming LIFELESS just like the STONES... Please look for TRUE GOD and Worship him alone ... which is a light for the HEART.
The Girl who run after many gods will not effect a bit for ISLAM.. the religion of TRUTH. please note that...
All the best!
@ Sister Swetha,
Your are absolutely Correct she left every thing for him. And in return what did she gain...she lost the Beautiful Paradise and Gained the HELL FIRE.
We are not at all worried for her, But we are Worried and will pra
Inna lillahi wa inna ilahi rajivoon..... Pity her Parents....
others called terrorist .....we are real desha premis,
if other do love jihad........we do kattale inda belaku
if other do GOVU hatya........we do yajnya /yaaga
if other do kole.......we do unfortunately
if other do anaitika sambhanda ......if swamis do kanya .....
if other do RAPE........if we do deha samparka....
ayyoyyo list never end....
First up all Congratulations to them and the society of Hassan, Wishing you Both Happy married life, really I must very much thankful to the Coastal Digest, one thing you forget to name this \JIHAD\" Could you please name it \"RSS Love Jihad\" any way again wishing you both Happiest married life, I am very much concern about the crazy people around the Globe, both Male and Female Join each other there is no race between both so we have to have understand that this is the real things to happen. You Criminal minded BJP, Bajji Ranji do not be happy next your time to face ok Gentle men, do not forget great Newton's Law \"Every Action has Equal and opposite Reaction\" Believe it Master Criminal Mind people.
Jai hho Bharath Matha
Jai hoo Siddaramanna."
Hidayath denewala Allah hai. Log kuch nahi karsakthe hain.
Congratulations to the couple. You married on your will. Wish you a happy married life!
She left her everything for you, Please take good care of her.
Have a happy life. All the best
She has taken very unwise decision by neglecting her parents. Since she has no respect to her parents, I am sure she will not respect any one else and she will bring more headache to her lover + his parents. However, I pray Allah to give her right way of thinking and let us come to know about her mistake and repent for it. Any how, we are not bothered about her as it is her will and none is going to force her to come back to her original.
what goes around will comes around. but at the moment let them both enjoy....
May Allah protect us from hell fire......Inna illahi wa inna ilahi rajiwoon. may allah guide us in a straight path.
Guys, take it easy. And dont post rude comments. Mistakes are done by everyone. It is better for her to repent. She may correct the mistake. we never know what is the future. Lets not judge anyone. Judgement is from the lord.
congrats... wish u happy married life :) ... she escaped from oppression and slavery ... even cattle lifter in particular community demand higga mugga dowry ... ... haha ...... education level saha hennu makkalalli jaasthi ide ... they dont want to become 1 out of 4 ... so they opt out for christains and hindus ... not only this case , like this many cases are underway ...
Hindu guys are looking for Muslim girls out there.. but forgot about our own sisters..please god gv sme good thnkng to our brothers.. our sister are getting ruined by caste system but these fellow mates are looking for others instead of searching inside.. I dnt knw wat will happen to our sisters
May Allah save all of brother and sister from the fitnah of Iblish... Yha Allah please we born as muslim and grant us death with iman Ameen
This is the result advanced tech. Parents has to check their all mobile nos which has fake names ie real boys name as girls names (dummy) names and incoming calls blocked by lovers. Only user will unlock during parents absence.
Several Muslim girls have married non-muslim men before also. No big deal!
And in all cases, the marraiges have failed and the girls have returned back to their families. This one also will return in a year or so.
parents are not much educated enough to the effect of Facebook and whatsapp. If you want to provide phone to your children give them simple phone where they can not download illicit apps
After getting bored with worshiping Cow, Monkey God and idols. definitely she will return back to the real God. Insha Allah
Ajmer Case is going to repeat again!
truth will prevail and evil will perish soon. In shaa Allah
Inna Lillahi wa inna illahi Rajivoon. Lack of follow ups by the parents and overconfidence of parents and Lack of God fear and religion of Islam leads to these kind of things.
chaddi dal i hate coz its doing wrong is not gud murthi puja is wrong way so i hate chaddi jihad
Congratulations Girl for the best decision.
This is the sign of qayamat, In Sha ALLAH, all this kind of girls will get big punishment.
happy married life, ishwar bless you both.
I am a proud kafir (Infedel) and will always remain so. Millions of girls worldwide - especially from islamic countries and turning to hindusim - one true religion.
I see alot of non-muslims are cursing Islam as always but let me tell you if you go through survey you will find out that most of Hindu girls have got married with Muslims men but we dont show off like you. ISLAM IS THE RELIGION OF PEACE and if you doubt it come to me i will clear your doubts. If you want to cross check what i have said then you better check my Past you ll find out how many HINDU girls have been my Gfs but ISLAM opened up my eyes and showed me the right path so i left all of them to live in peace and got myself prepared for the life hereafter.
I WARN YOU TO STOP ATTACKING ISLAM. TAKE MY ADVISE START LEARNING ABOUT ISLAM THEN COMPARE WITH YOUR RELIGION I ASSURE YOU LL FIND THE REAL LIFE.
Dudhka Dudh Panika Pani :)
Add new comment